The second-hand and refurbished market is booming. According to a new study by IDC, 282.6 million second-hand mobiles would have been sold in 2022; growth up 11.5% compared to 2021.
While the market for new smartphones has been struggling for many months now, second-hand and refurbished have never done so well. IDC even estimates that the sector could grow by 10% on average until 2026 and that sales of second-hand mobiles could reach 413 million units in 2026.
In France, the trend is confirmed
It is precisely because the new market is at half mast that the second-hand market is flourishing. Many operators and manufacturers have developed or strengthened their take-back programs in an attempt to encourage the public to change mobile. As a result, trade-in prices are on the rise and the number of second-hand mobiles arriving on the market is growing. “Second-hand devices hold up better, […] as consumer appeal remains high in many regions. Attractive prices are essential for growth, as cost reduction remains the main advantage of this market“explains Anthony Scarsella, analyst at IDC.
The trend is also confirmed in a more local way. In early 2022, a Kantar/ReCommerce study told us that 37% of respondents had already purchased a used smartphone. It is indeed the price which is the decisive criterion on the refurbished mobile market since 67% of respondents cite this criterion as the main motivation for purchasing.